The Money Mondays - Shark Tank’s Daymond John: Life, Best Sales and Business Strategies 🦈 E85

Episode Date: September 2, 2024

We have one of the sharks, Daymond John from Shark Tank, with us for this video! He’s here to share his sales and business strategies, as well as talk about himself and his life. Watch till the end, this shark knows his stuff... In the comments below, what's your favorite shark tank moment with Daymond John? Like this episode? Watch more like it 👇 Cesar Millan & Jen Gottlieb on MONEY, MINDSET, BUSINESS: https://youtu.be/m7VJOApOWyA Dan Bilzerian Broke All the Rules & It Paid Off BIG: https://youtu.be/yMOCvk_6cxY Tai Lopez: From Garages to Greatness - Build Your Network & Net Worth: https://youtu.be/-h9HQuXPaW0 Dan Martell: The Man with the Cheat Code to Money: https://youtu.be/xj_y30BXEyo Watch ALL Full Episodes Here: https://www.youtube.com/playlist?list=PLs0D-M5aH-0IOUKtQPKts-VZfO55mfH6k --- The Money Mondays is a business podcast here to teach you how to make money, invest money, and donate money by showcasing some of the world's most successful people and how they do the same. Hosted by serial entrepreneur Dan Fleyshman, the youngest founder of a publicly traded company in history, this money podcast gives you an exclusive behind the scenes look at how the wealthiest celebrities, entrepreneurs, athletes and influencers make, invest and donate money. If you want to learn more business and investing while you work to improve your financial life, you're in the right place! Subscribe: https://www.youtube.com/@themoneymondays?sub_confirmation=1 Dan Fleyshman, The Money Mondays Learn more here: https://themoneymondays.com Watch all the podcast episodes: https://youtube.com/playlist?list=PLs0D-M5aH-0IOUKtQPKts-VZfO55mfH6k Let’s Connect... Website: https://themoneymondays.com Podcast: https://podcasts.apple.com/us/podcast/the-money-mondays/id1663564091 Twitter: https://twitter.com/themoneymondays LinkedIn: https://www.linkedin.com/company/the-money-mondays/about/ TikTok: https://tiktok.com/@themoneymondays FB: https://www.facebook.com/The-Money-Mondays-110233585203220/

Hey Tarzan, you know, have you ever did this and said to yourself, there's gotta be a better way. So now you've indicated a problem. Well, I'm Damon John and I've been doing this for 20 years You know what after all of that, I finally found the better way. Now you I've qualified myself and now I'm waiting for the hook to share it with you and Because I know you've already stuck like this or you into your thing, whatever it is, and you don't believe in a better way, I'm gonna give you two better ways for free. And now you've given them the barrier entry. Now you gotta put a time on it.

And if you call by tonight at noon, I'm gonna give you four better ways. Okay, now there's a sense of urgency. And if you don't like the better ways, I'm gonna whatever, give you your money back. So that is the best way to pitch somebody an idea or a concept ladies and gentlemen welcome to a special edition of the money Mondays Tarzan and I just pulled up the RV motorhome here to the resort in

Carlsbad California because Damon John was speaking at an event here. He was throwing a mastermind conference and had all these interesting characters. And so the whole reason we started with RV Motorhome is for situations like this, because how in the heck we're going to try to coordinate with Damon John normally when he's busy flying around the planet, speaking 100 times a year, filming TV shows, doing his business and all of the thing in between to try to lock him down and meet up with us at a podcast studio would be very difficult. So the RV Motorhome made those things very easy for us to pull up here with the Motorhome

to Mr. James John. Well, I just actually got an RV yesterday. Shout out to Winnebago. So us RV people got to stick together. Bam. You didn't tell me RV. Once you said RV, I said, oh, I'm available. Bam, he's in. All right. tell me, RB. Once you said RB, I said, oh, available. Bam, he's in.

All right. Thank you, man. Thanks for having me. Thank you. So as you guys know, the way we cover the podcast is under 40 minutes per episode because the average workout is 45 minutes. The average commute to work is 45 minutes. So this episode will be between 36 and 40 minutes for your listening pleasure.

Also, we cover three core topics, how to make money, how to invest money, how to give it away to charity. So as you guys know our co-host here the real Tarzan just got back from Africa. He spent a month out there so I've been sad but here by myself making episodes. Our first one back of course he can't miss his boy Damon John. We had to get him in here and so as you guys know Tarzan's getting over 200 million views a month on social media but during his trip to Africa he was getting 200 million views per week because social media, but during his trip to Africa, he was getting 200 million views per week because he was out there with gorillas, lions and tigers and bears, oh my.

All right, so we're gonna dive right in. Typically, we do a bio. We have our guests to do a quick two-minute bio. I don't necessarily think that we need that for this one with Damon, but I wanna dive right into questions. They can come right in. So at RV Motorhome, it's okay.

All right, I didn't know you were actually in Africa. I saw that I know there was back in the days or something and you had like you were looking at it like a skull of something That's cool. And you were just roaming around out there Just looking at skulls of something that just eaten that could be around and they may want some dessert. Alright, well, let's get into it I'm glad you're back. I'm glad you're back, man. I'm glad you're back. Congratulations.

Let's dive right in. Let's do it. Damon and John, on the making money side, for the people out there in the country, we're going through, some people are going through trying times, some people are having amazing times based on where they are in their economy and how they're dealing with the different things that are going on in our world. Inflation's going crazy. How are some simple things for people to be able to make money?

Well, that's a very general question. going crazy? How are some simple things for people to be able to make money? Well that's a very general question. The simple things on how people can make money is first of all, invested. But first of all, again, it's not about what you make, it's what you save, what you retain. So what are you bringing in? And let's look at the leakage. Can you cut back on, I'm going to think about the average person that makes an average of $40,000, $50, leakage, you know, can you cut back on, and I'm gonna think about the average person that makes an average of 40, 50, 60 thousand dollars, what can you cut back on in your life, number one, to retain as much, and then where can you put it, maybe in a public savings account or a public account, where can you put it, whether in, as Warren Buffett would say, there's one thing you're always gonna have with you is your brain and nobody

ever take that away and how can you invest in a reasonable way into your education and or things that you can do today so let's look at public stocks and companies I got into Shopify at $28 I know that they're not gonna make any more malls. We're not just all going to just say, saying, let's go to the mall. We're not all going to go, let's open a retail store. It went to 1900. Right?

If we look at Amazon, what did Amazon do over there last year? I don't know. They doubled? Maybe? If you had put that same $1,000 in the bank, that $1, dollars would have been, I don't know, a thousand sixty. If you had put that in Amazon, it probably would have been two thousand. So we can look at money like that. Other things of course, invest in your education.

And I'm not talking about big formal education, but if you were going to open a business or run a website or something like that, invest in understanding editing. Invest in understanding some things that you would end up having to pay somebody else to do. So those are the first things I do is try to invest in what I currently own. Can people make money selling clothing nowadays? Well, you can make money selling anything. Number one brand in Shark Tank history is Bombas Socks. It sucks. The number two product in Shark Tank history is a sponge. Right? So most people say what are you talking about?

Well everybody needs sponges, everybody needs socks. It was just a new form of delivery. You can make money doing anything. However, you got to make money doing something you love You know Kevin O'Leary always says I love money, you know Kevin O'Leary really loves He loves complicated financial structures that will manage his downside It's not that he loves money. He just loves being able to put it together With something else and making sure that if it goes bad bad He doesn't lose that much but the upside is great. He really technically doesn't love money. He loves the process It's a chess game to him You know Tarzan here obviously loves animals and he loves animals in certain ways that you know

protection highlighting them Giving them, you know, protection, highlighting them, giving them, you know, giving people the education on these beautiful things that we coexist with. He makes money doing it, and if he did not make a dime doing it, he would be so fulfilled for the rest of his life. And what are you trying to make money for? You're usually trying to make money for, of course,

education, medicine for your family to protect yourself, but generally you're trying to make money to buy yourself or give yourself the option to not have to go to work or to give yourself this joy. If that's the payday for yourself, then understand what the value is of money. There's money and then there's value, you know? So let's pretend we have the back to the future car. Yeah. And remember the back to the future car can go back to like 1988. Mm-hmm. Think of the difference of when you first launched Fubu back then, just having to take a mortgage on the house and having a couple thousand dollars and getting your, you know, four friends together versus you launching

Fubu today with the same four friends. What would do different now? FUBU always stood for and it still does for us by us and it was the for us by us a lot of people thought it was a color but no it was a culture that was primarily created by African-American males in the streets of the Bronx that loved this music, but this music was for everybody. So we dressed beastie boys as much as we did all the artists. And that's what FUBU stood for in those days. And in that time, there was nobody who was, and it was a unique selling proposition. If you wanted to buy any kind of or support any kind of African American themed clothing, you would either have to buy kente cloth colored cloth colored stuff kinte cloth stuff or the pioneers of the industry I'm in cross colors they made

denim that was blue but then also the kinte cloth colors yellow green I think red right I don't want to wear no yellow denim suit I'm trying to show up looking like a banana that's that's not my. So I did goods that were more American cowboy, nothing against Crust Cause. I wouldn't be here without them or Carl Canai. Make it very clear. And so that's what it was then. Well today, what would FUBU be? What is the plight of the people today?

The plight of most people is I can't trust the government. Interest rates and everything are out of this world. So even if I work a regular job, rent is going up like this and my pay is going like this. So the middle section is being compressed. Well today I'd probably launch FUBU if it was the way of what I would say. You can't, I don't need to worry about stores. I would have one young man, one young woman in each college and in each high school that are official FUBU representation and they are the only ones who could sell you goods.

They would do like our buddy, five point denim? I would give them, I would give them, if they give me $100, I would give them two hundred dollars worth of food or 250 that they could sell that I would also get a bank to say we're gonna underwrite or credit you the first they can then be independent salespeople and the more that they sell the more they would be able to also bring up other people very multi marketing but they you would only have maybe two or four other people.

And the more they sell, they would also get digital curriculums on, you know, because right now, you know, to go to college, 50% of the kids today graduating college will retire with a job title that doesn't exist today. And there's no need to go away to a college and pay $700,000. I remember calling my daughter when she was in school to live on some dorm that half the time you're actually taking remote classes. It's just a huge, huge waste of money. So these kids would probably, every time they hit a criteria number, they would get, here's

another digital marketing course, here's a social media course, here's a finance course, here's various other things. And I think that that's what I would probably do and have 20,000 kids around the world doing that. And that's what the FUBU would be. It would be an alum or an organization of kids empowering themselves and changing the world. So Tarzan, during your month out there getting hundreds of millions of views a week, how do you make money as an influencer? Different brand deals. out there getting hundreds of millions of views a week, how do you make money as an influencer?

Different brand deals. These days, like Young LA or a protein company, when I travel for a month, perfect time to drink my protein shakes. You know, because if I start- That's the first form of it, you did? Exactly. You know, I took first form out to Africa.

You know, they pay you 15, 20,000 bucks, two posts a month, 12 months in a year. That's excellent. You know I got dog food. I got cat food right there I got a flight somewhere there and back a hotel back to pay for my shooter for the month You know so when you have a protein deal, and then you have okay a clothing deal. There's something my mentor Dan Said oh you can have a watch or have a cap or have some shoes I've been getting sent Nikes. You know, I did a deal with Nike back in the day for free. You know, they sent me some shoes.

I wasn't like, oh, what's your rates? Well, I got a shoe for free. Don't worry. When you go put your stuff in your portfolio on your intern at Nike and everybody has 500,000 views, 800,000 views and they spent some of the budget and you spent, exactly. There you go. And you spent none of the budget and you spent exactly. There you go. And you spent another budget and you got the highest 4 million view video from me and then

you get the job then you call me back like hey 10 months later, a year later, do this, do that. You know I got some budget for you. You know. You know what, your social media is your inventory and even if somebody's not paying you it's what we call remnant time. It's like a hotel. If a hotel has 400 rooms in a hotel and at noon they only sell 100, they have 300 rooms

that they will never be able to sell and get in or money. So you go and get those rooms at 20 cents on a dollar or give them a 20 cents on a dollar. Well now you got somebody who's at least experienced a hotel, maybe they've eaten or drank downstairs, they had some guests over. So when you look at your social media, it's remnant time. The same is a flight that takes off or a radio station that doesn't book the time. So people are so busy, like, pay me for this. But I'm still going to wear a hat anyway. I'm still going to wear this anyway. So if it's not your own personal brand, put something else on, right? I'm still going to be sitting in front of something. I've been doing that lately with art.

I've been saying with fine art, I've been saying that, listen, athletes, some, and some athletes and singers, they get to a point where they have managers and they get to do really well. But I've learned that the art community has a large amount of addiction, and the art community are people who make and create these beautiful

things that most of them will never be known and get somebody else and all for their pain we get to see these things. So I said to myself, I said to a couple of rappers the other day, I was like, why don't you put fine art inside your or people that are emerging artists, why don't you highlight their piece as backdrops? You need a backdrop anyway. Who cares about some of these luxury brands that you're busy bragging about in there? Why wouldn't you put them in? You know what?

They become a Keith Haring 20 years later because that's what Mick Jagger and him did together. And so I think the same thing. You put the Nike on that person, believe it or not, I'm old enough now that the people that I knew that were carrying records now are huge. And they remember me from 20 years ago and they were like, man I was standing outside trying to get into a party. You were like, come on in. I just told you the story. My very first time going to nightclub was at Rum Jungle during the Magic Convention. It's still burning my head. My first party was a fubu party. Yeah. Wow. 21 years ago. Okay, let's do a fun little live action situation.

Tarzan the influencer wants to get ahold of Damon John, the clothing brand owner. How does Damon John react when he gets a DM or an email from an influencer? How do you engage with an influencer? To work with him. Well, we check him out first. First of all, an influencer, to me,

it could be somebody with 100 people. It all depends on what they're doing. So we check them out first. First of all, an influencer, to me, could be somebody with 100 people. It all depends on what they're doing. So we check them out first. And if I didn't think that he was necessarily the person that fits what I'm doing, I would ask him, I'd say, thank you for reaching out. Because my mommy always said I had to say thank you and respond to people. And I don't care if somebody offers you just a dollar for your house It's a dollar more than most of the people offered you so first of all say thank you and then I would want to know You know, what's up, you know, how can I help you? You know and that's it and then once he tells me what it is. I'd be very honest with him with

You know, you know what some of the things we're doing. So if he says hey, you know what man? You know, you know what some of the things we're doing. So if he says, hey, you know what, man, I'm really into sports, man, and I've been wanting to really get to Mark Cuban. Well, I could say, I've gotten that request 10 times today. Screw you, I can say I don't have time. How is he gonna take that?

Well, there's another way to say it. Well, I throw it on him. You wanna pitch Mark Cuban? You know why I'm on Shark Tank? Because I want to pitch Mark Cuban. I got my own goddamn ideas. Leave me alone. And then he'll go, oh yeah, oh you know what, you're right. There's certain ways to deal with it. Now what if he is somebody who is doing great? I would still say, how can I help? And no matter what we part in that conversation, it's almost like leaving a gift bag. It would be like, well, listen,

here's what I can tell you to do, whether we do business or not, here you go. Just so the kind of interaction was a pleasant one. So Tarzan, let's say you're going on another trip, you're going back to Africa in November, and you wanna get $50,000 from one of Damon's clothing brands, for example. What would you say to make it compelling for him

to wanna sponsor this $50,000 trip? Well I would definitely start off by saying you know you're gonna get the most exposure for that time in November. You're thinking about Black Friday, you're thinking about Thanksgiving, you know everybody's out of school on their phones so I'm here to maximize exposure. So I'll say hey whatever you're paying somebody else I give you a discount you know and you're also gonna increase your followers whatever you're paying somebody else, I give you a discount, you know? And you're also going to increase your followers. You also can increase your engagement and also your viewership.

Boom, Black Friday, Christmas, if you're there, you're there, you know, because we're going to be in Africa posting live content with your clothes on. So a lot of views, a lot of views. A lot of views. Can't miss it. So we talked about the making money. So let's go on to the investing side.

So you get pitched, like you said, 10 times a day, the number is probably higher, people wanting you to invest. Are. So you get pitched, like you said, 10 times a day. The number's probably higher. People wanting you to invest. Are there certain things that when someone approaches you right off the gate, you're like, I'm in or I'm out? Are there ever times where you're like, I want to take this further right away, or for sure I'm out?

I'm never in right away. It always takes a while to hear what they're doing and get a feel for them personally. So the things that I'm out is somebody who says something like, you know, if I only get one percent of one percent of the market. The total market is $1800 billion. Once they do that, they don't have enough information. Right?

Come on, you know these already. Right? Another person who says, yeah, well, and because you right another person who says yeah, well and Cuz you're the clothing guy this this and that didn't do any homework on me because if you know me from shark tank the reason I got on trying even those socks I did the reason I got in shark tank is Because it was oh eight nobody buying clothes when they couldn't pay their mortgage I had ten clothes and coming to eight of them were dead the last thing I wanted was clothing So you didn't do any homework on me. And of course if you didn't read any of my books,

you didn't even know that they exist. Now we can talk about it separately that it's a big world, you didn't know you were going to run into an elevator in me, and that's something different. But all of those things where you have a lack of information is where I would not invest. I can tell you when generally somebody invests in people, when you give them the FOMO feel, like, and I say it all the time, like the train is gonna leave the station with or without you, I want you on the train,

but if you're not on the train, this train is leaving the station. You do it like an infomercial. Infomercials work, well, not all of them work, as you know, but they have a very specific formula. You have highlighted there was a problem that exists or a joy that is going to be brought to people that they didn't know or they didn't know. You qualify why you're the person to solve that problem and then you give somebody a

low barrier or an entry into solving that problem or being part of it. Hence infomercial, right? Hey Tarzan, you know, have you ever did this and said to yourself, there's gotta be a better way? So now you've indicated a problem. Well, I'm Damon John and I've been doing this for 20 years and you know what, after all of that, I finally found the better way.

Now I've qualified myself and now I'm waiting for the hook to share it with you. And because I know you've already stuck like this or you're into your thing, whatever it is and you don't believe in a better way, I'm going to give you two better ways for free. And now you've given them the barrier entry. But now you've got to put a time on it. And if you call by tonight at noon, I'm going to give you four better ways. Okay, now there's a sense of urgency.

And if you don't like the better ways I'm gonna whatever give you money back so that is the best way to pitch somebody an idea or a concept and You know you went want to make them feel at home. Let me be down. You know, I mean so Okay I love that so valuation this is a very fascinating thing to me over the years. And people just kind of pick a number from.

Do they? Especially for startups. And when someone approaches you and says, I have a $20 million valuation and they haven't sold anything, how do you interact with them? You know what I'm saying? We got it. Yeah. We're going to get that one out. Yeah. You know, I say yeah

Yeah, um That's true, you know Your only is valuable to the person as in regards to what the person needs You know You know a cell phone may only be a smartphone may only be worth brand new, how much, $1,000? But a used one when the camera doesn't work and nothing else works on it but actually to be able to call, that's worth $100,000 if you're in a certain situation where you need it, you need to make that call. But vice versa, if you have a company and you're valuing it.

Now, let's say a company is not, they're doing business. Well, you can somehow qualify it by saying, I'm doing this amount if you're pulling money out of the company. That's some basis, but it's very hard to... When someone's doing zero, but they... Listen, I had $300,000 in orders, and when I did my deal, I did a 50-50 distribution deal for no money. It was zero. Why? I knew they had distribution. So, I could have taken in $5 million or $10 million, but as you know, business is a huge cash suck.

I don't know how sophisticated the audience is, but some of you people can understand. My deal was that I can have a billion dollars in orders, and if they were triple credit rated companies, Macy, JCPenney, da da da da, I had no personal guarantees, and I can open an LC right away A letter of credit right away. So what was the value of that? You know what I mean? So again, it all depends on you know what people have From a real-life perspective when I was doing the energy drink business I was getting orders for a million dollars five hundred thousand two million dollars well every time you got an order you you needed around 50% to manufacture it.

But the company, let's just call it Costco, isn't going to pay you for net 30, net 60 or net 90 terms. Let me walk you through that exactly what Damon was just talking about. The fact that he had lines of credit or he was able to get money for manufacturing was massive because I had to go beg, borrow, and steal to figure out how to finance an order for Costco. So let's say January 1st they say, we're going to buy $2 million worth of your energy drinks.

Wow, sounds cool, right? But I have to now come up with a million dollars to make that product. They don't want me to ship it until March 1st. This was January 1st order. March 1st, ship it to them. And then the clock starts ticking for net 30 to net 60, meaning Aprilst or May 1st and when they're gonna pay me the two million dollars That's four or five months later from when I had to come up with the money to make the drinks, but wait, there's more What if I actually do well?

What if my drinks actually sell through and I go to 10 million? And now they want 10 million dollars and they haven't freaking paid me for the first order and I gotta come up with five million Dollars to manufacture these drinks for Costco which sounds like a good problem there's not that many answers unless you can figure out how to do what's called factoring a letter of credit or Getting some really rich people together and make them feel comfortable with Costco that they're gonna pay you net 30 net 60 or net 90 Later me I had none of those problems zero Samsung like this how go. That's it.

Okay. Hence, then you at the pooh-pooh party. I showed Damon recently at my picture. I had like a 20-foot booth with her. I thought I was balling because there's normally 10 foot by 10 foot. We went crazy and got 10 foot by 20 foot. Yeah. Right? balling because there's normally 10 foot by 10 foot we went crazy got 10 foot by 20 foot yeah right 3600 dollars on my mommy's credit card which basically bankrupted her because she didn't have her limit was three grand so i basically went over her and i had to give her cash i gave her 1200 bucks that i was gonna be there 2400 bucks we went crazy 10 foot by 20 foot booth we show up on the left is the launch of a brand new company called Sean John 1999 and on the right is this massive empire.

It looked like a mile long booth called Fubu. And I see Damon walking by with like 40 people and I got to meet him for like seven seconds. Back then in 1999 when it first started. And so, I just posted the picture a few weeks ago. Yeah, it was a great picture, really grainy. Back then because we didn't have-

There was no such smartphones? Yeah, yeah. No such thing as smartphone. Okay, yeah. There was no such thing as smartphones. Okay. So on the investing side, you get pitched left and right. Do you go product category specific, like once you've invested in socks and someone else has something sock related, would you still invest in that category? Or you're like, you know what, I got that checked off.

Or someone comes up to you and says, hey, I want you to invest into this food business, but you already have food. I don't really want to do that anymore. Or sometimes they can play well together and kind of leverage each other. Only if they could play well together. I look for strategic relationships in anything I do. I try to maximize.

And sometimes I do it too much, but I try to maximize every bit of the resources that I have. So yeah, if I'm doing food, well if I have something, I don't know, is biscuits or something else like that, well if I'm selling to bakery type of shop and I know that there's something else I have that can sell into that category, well then yes I'm trying to, I'll do that if I, if the investment is right, I'll do the investment because I can because I can have the, I like to do three things in a category, you know, Best Buy has this theory

that they will not carry one product in one category from you because if they're selling scooters, whatever, the electric scooter's right there, if you come in and they only have one from one brand or just one period, you look at it and you go, let me see what else is out there. Right, outside the story. But if you have three, you go, ah, I don't like that one.

Hmm, same as they say when you pitch TV shows in a room, you come in with three. Because they go, ah, I don't like that one. That category doesn't, oh, you didn't tell me you have these other, but you don't tell me you have these other... But you don't tell them you have three. You go, I got one winner. I got these other two we've been working on.

You know what I mean? So people like to be able to have the choice. So it's interesting. Costco actually has what's called the rule of three. And they have a low price, medium price, and holy shit price. And that's the way that they do it. So it's like Monster, Rockstar, and Red Bull. Red Bull is the most expensive.

And they will line them up next to each other in numerical order of price points to make you walk by Red Bull. It's too expensive. You see monster, you're thinking about Red Bull and then you see rock star. Like, Oh shoot, that's way cheaper. That's half the price. Okay. Tarzan, I've asked you this question before, but it's leading into a question for Damon John. Out of all the animals on the planet, what is the one that you're most fearful of? Humans. Hmm. Me too.

The most dangerous ones. They never pay you back. I wish they would. So it leads me to this question, Damon. You've been famous for decades and the TV show running for 14, 15, 16 years now and the number one show on the planet. How do you trust in people as they come into your life to know who you can feel comfortable with? It takes a long time. Most people, I start building trust after about six years, seven years. It's the old saying, it takes half a lifetime to find a friend, the other half a lifetime

for them to prove it. So it takes a really long time and I watch them about what they say about others, how they respond to others. Well, I was talking on a stage with a very well-known speaker and it was funny he said that Southwest had a big issue at one time or one of those companies, I think it was Southwest, they were losing flight attendants. And their reports on them were, these were the worst people ever. And an expert came in and said,

stop interviewing a one-on-one and interview them in a crowd of 100. Said, okay, cool. You okay, man? I feel great. Yeah, it's hot. All right, got man? I feel great. It's hot. Yeah, it's hot. All right, got no problem.

It's called the sweater for a reason. Yeah. So they interviewed him in a crowd of 100 and they said, oh, we got some DZ Canada. They said, you're watching the wrong people. So who are you watching? Watch the other 100. Watch the people in the room because when that person's up there, I'm going to do this and that, watch the ones who are like... Rolling their eyes, and watch the other ones who were like, rooting, they're going for the same job,

but they're rooting for them. And they said, watch them. When they turned that around, their approval rate went up 77%. Watch the people you're around on how they talk and deal with other people. And that's what they're doing with you. That's fascinating. Yeah. Interesting. You have any questions before we go into the last chapter? Yes. You had mentioned earlier that you

had, I think, 23 to 27 where you don't remember anything. You were focused, you were locked in. I've been there before. All three of us have have you guys are much more further ahead than me have you had you guys have had said you had those moments just business experience age yes for sure I'm 30 so I'm pretty sure so basically right at the same time, do you guys have those moments again down the road when you're 40, you know? 10 years from now, do you say,

hey, I've got the money, I've got the business is rolling, you know, the fun's not fun anymore. What's fun now is hitting my emails 10 times harder, hitting my daily small disciplines, getting my coffee at 8.01 in the morning on the dot, hitting the gym 55 minutes on the dot, hitting yoga every Tuesday. Does that become the fun part down the road?

Do you take that time again from 38 to 42 to say, hey, I'm locked in, I don't remember shit, my company went from 100 hundred million to a billion My fun is the game the good the bad the ugly. I know there's me bad stuff We know there's gonna be lawsuits and headaches and people lying cheating and stealing I know that stuff's gonna happen and I'm fascinated by that and the human dynamic and the psychology of it I'm trying to guess who's gonna try to do those type of things But the game is what's fun to me like like the raising the capital, funding the deal,

watching the manufacturing, watching the shipping, seeing the good, the bad. I like all of it and I'm okay with it. I'm calm in the chaos. When the bad stuff happens, I'm expecting it because we've been through so many things over the years. He's full of shit. He's a new dad. How old are you now? 43. How old are you now? 43. Oh, I'm the one who's 43 too! You know, um.

How old are you? I'm 55. So, I think that, thank you. I think that the thing that has made every one of us the hungriest motherfucker on the planet is that we go narrow and deep on something. He's 100 hundred percent right. We enjoy whatever the game is, but we will get to a point where first of all anything we don't like what we're doing we'll get out of the way, but we'll get to the point where we

get fat and lazy off of the success of it, you know, and then we'll find ourselves and refocus on something else. So I don't remember 23 to 27 or whatever about Anything more other than fubu right 30 to 35 fubu on a major level, but I remember fubu from that point of guiding hundreds of people Losing my family because I was so busy overseas and every place else but creating a global brand. I

Don't remember anything else but this that the transitioning of myself who had to deal deal with products and t-shirts as being my commodity then My face and knowledge of educating as many people as I could from 37 to around 40 something years old I don't remember anything else then I don't remember anything else besides Shark Tank those first years where I was trying to figure it out all these new companies coming and how am I being a public person? So I'll we only can retain but so much in my mind after that. I don't remember anything else about And we only can retain but so much in my mind. After that I don't remember anything else about then I'm going to live long because I just realized I have cancer and I'm over the cancer now and I'm going to live longer.

Now business is great but I don't remember anything now besides this little eight year old girl and my wife. Well I'm not going to fuck this up again. He has a little girl. I'm telling you right now he ain't going to fucking know nothing about business. You're going to ask him about this podcast He's gonna say what podcast because for the next five to ten years He's going to and I would I hope he will be will be the best father and the best husband and best

That he ever can be so it just becomes what becomes your driving force in the focus of that time You know what I mean? I understand. So thank you for that.. On our last subject we'll talk about charity and charity does not always involve money. Talk to us about why do you think people should be involved in charity within their companies or their family households? Why should they have charity element not necessarily cutting checks? Yeah listen for those who are fortunate enough to be able to cut checks and they do philanthropy with that and there's a lot of people who do it that we would never know of and you don't get any, you don't get any acknowledgement. Bezos' wife, how much did she give away?

Hundreds of millions, maybe billions now. Billions, right? Primarily to minorities and she said, I want to pay back whatever I can because I know that I have success because of the backs of others that we took advantage of. One press release, nobody talks about it, but let it be somebody who pilfered or was said to have done something wrong in an organization like that when maybe they didn't maybe somebody questioned it. So just to be very very clear I'm in a lot of rooms where people that you would never

know are doing a lot even I'll be very honest Mark Cuban I see him do stuff for people and they come up to him Mark do this do that you're gonna get the press he says I'm only gonna give you the money if you don't tell anybody because it's not about me This is about the son you lost at the hand of violence This is not about me and he'll give them the money and he says the only condition is That you make this about the memory of your child or this disease or whatever the cases So first of all, it's the right thing to do. Um, I think that though Even if you can't do it a lot of people I don't have any money

You go into two you go and buy two or three things a day, you know you know it you know if if 200 people walked into a convenience store today and If you go there every day for your bacon egg and cheese I don't give I don't give shit what it is I'll imagine if 50 of those people put out on their social media posts, got another bacon, egg, and cheese, the consistency is the same from so and so deli

on 34th and whatever. I love this small business, this small family. Imagine if 50 people did that a day of how that business would grow. So charity doesn't have to be charity. Charity is love, right? It's giving, and we all have been recipients of those who give and the most powerful people to ever, the most powerful feeling is those who give

that don't expect anything, especially when you don't even know they've given. So again, but this has to be genuine. It has to come from me because you want to do it. Don't be that person going, hey, take this sandwich and now look at me, I'm gonna take a picture of me. Look how good I am taking a picture of that and forcing this person now to take a picture because they're hungry. That's not charity, you know, that's something a little different.

So the last question we ask on this podcast is more emotional and deep. And we never gotten the same answer before and I don't think we've never gotten the same answer before and I don't think we're gonna get the same answer now. One day, 200 years from now with modern society and technology and medicine, you're gonna have bionic arms and finally it's your time to go.

Let's say you're a multi-billionaire. What percentage do you leave to your children? Oh, you never heard my answer. I'm not leaving shit zero zilch nada No, that's it That's a easy question How would you leave your kids They're gonna have shit with land Go live on it. How would you leave in land Going on I don't know yet. I've asked this question over and over and over and over and over How many people said nothing a lot of people right? It's different. They framed it much different. Oh, okay. Let me clarify

My so I have two older girls my girls are 30 and 25 they know they're not getting nothing But I've said it from the beginning and I've done it for various ways I don't want another man coming in through their life or whatever the case may be because they have alternative motives so it's very clear from the beginning if you come around you'll come around because you want that person also they also knew from the beginning so if you tell them at an early age, they themselves go out and go, I don't want anything. And when they don't want anything, then they want more.

The theory is if you give a kid everything, you make them the poorest person in the world, right? And if you do look, and I say it all the time, you look at the poor, the carnagies, the melons, all the Rockefellers, the ones who have founded this, the titans of this country of ours, I say it all the time you look at the Ford's the Carnegie's the Melons all the Rockefellers the ones who have founded this The Titans of this this this country of ours. I say it all the time There are foundations and a lot of stuff they do we still benefit off of I think Rockefeller like created the national parks I mean that we enjoy right put aside that land I know many of their kids a

I know many of their kids a very small percentage of the trust fund kids they still run some of the organization great why don't they own the the Tesla's the Instagram's the Facebook's and on the Google's of the world they could be an early investor now their funds may be because the first generation makes it the second enjoys it and third destroys it because they've gotten it all from the beginning you can't do that. So I'm not giving them a deadly squat. Now I will be leaving money for them to at least, let's say, my daughter will, of course, if she want to get higher education or if there's a certain amount of money in the board,

will say, yes, you want to take this amount to open a business. This amount? Yes. But, and my grandchildren and my great grandchildren will have money to get education and medicine, but up until a certain point after that, you own your own, homie. That's just the way it's gonna be. I love it. Any final questions? All right, guys.

You were listening to The Money Mondays. As you know, we've been running this ad free for over a year and a half now. So we want you to listen to the whole episodes. We have a 93% listen through rate. That's why we've been able to stay strong on the charts. Number 50 in the world as we speak. It's because of you guys sharing, liking, commenting, subscribing, et cetera.

All those things help us a lot to keep us up there on the charts so people can listen to this because we all grew up thinking it's rude to talk about money. And here at the Money Mondays. We make it very passionate very clear Why you should have these discussions with your friends family followers, etc to talk about money so people can learn about accounting taxes Finances loans leases all the things that we just don't talk about in high school because we don't talk about well

We didn't know it. Yeah, you know, we're going off old broken school system Where you know, they taught us they taught us You know how to go to shop and do various other things to be good employees or to build ships for wars We're not doing that any longer and they never taught us about finance and taxes and compounding interests and various other things Yeah, yeah, so, you know, it's not your fault. Don't ever feel like you're stupid You have to keep educating yourself on this because the tax codes change money and investments change and just it's got to be part Of your habits of doing it. Absolutely Alright, so check out Damon John across social media for not already following him check out the real Tarzan Damon's got some great books out there and obviously spend some time watching some of these episodes of Shark Tank and

researching on YouTube about finances investing. You can check out some of Damon's old speeches. Like consuming that type of content instead of like the reality television that's out there and a lot of the things that are going on in the world and TMZ. Those things are just going to be clouding your minds compared to learning about how to better yourself, how to better your business and how to set yourselves up forever. We will see you guys next Monday.